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Focus On What You’re Doing, Not What Everyone Else Is Doing


He wanted to be a starting quarterback. At Michigan, he wasn’t starting, and he was so low on the depth chart (fourth) that he only got 2 reps in practice. With three quarterbacks standing in his way of getting what he wanted, Brady decided to transfer. He met with his coach to express his frustration, “The other quarterbacks get all the reps.” His coach replied, “Brady, I want you to stop worrying about what all the other players on our team are doing. All you do is worry about what the starter is doing, what the second guy on the depth chart is doing, what everyone else is doing. You don’t worry about what you’re doing.” Coach reminded him, “You came here to be the best. If you’re going to be the best, you have to beat out the best.” And then he recommended that Brady start meeting with Greg Harden, a counselor who worked in Michigan’s athletic department. “There’s all of these guys ahead of me on the depth chart,” Brady told Harden. “I’m never going to get a chance here. They’re only giving me 2 reps.” Harden simply replied, “Just go out there and focus on doing the best you can with those 2 reps. Make them as perfect as you possibly can.” “So that’s what I did,” Brady said. “They’d put me in for those 2 reps, man, I’d sprint out there like it was Super Bowl 39. ‘Let’s go boys! Here we go! What play we got?’” “And I started to do really well with those 2 reps. Because I brought enthusiasm, I brought energy.” Using the Harden tactic, soon, the 2 reps went up to 4 reps. Then from 4 to 10, “and before you knew it,” Brady said, “with this new mindset that Greg instilled in me—to focus on what you can control, to focus on what you’re getting, not what anyone else is getting, to treat every rep like it’s the Super Bowl—eventually, I became the starter.”

That’s it.


Ep. 1126: Martin Bergin Interview with Michael Covel on Trend Following Radio

Martin Bergin
Martin Bergin

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My guest today is Martin Bergin, the president and owner of DUNN since 2007. Bergin oversees all mission-critical operations of the firm, including the firm’s research and development efforts as well as the construction and management of the firm’s managed futures portfolios. He joined DUNN in 1997 as Accounting Systems Manager, and was promoted to Vice President and Chief Financial Officer in 2001. Prior to joining DUNN, he was a partner at a Northern Virginia CPA firm where he worked for 10 years managing audit, tax and consulting engagements for clients in the managed futures, banking and defense industries.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • DUNN’s trading strategy
  • Modern portfolio and volatility
  • Reducing the risk and enhancing returns
  • Risk management modification
  • The philosophical foundation
  • Systematic trend following

Mentions & Resources:

Listen to this episode:

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The Trend Following Resource Library to Read Now

Trend following is counterintuitive. It goes against typical investment orthodoxy.

Trend following is not 5-minute bar trading, Warren Buffett, algo whatever, prediction, forecasting, buy and hold, fundamental analysis, value investing, day trading, HFT, Elliott Wave, candlestick patterns or traditional technical analysis charting bullshit.

Trend following is something different. Very different.

And to start you on the trend following journey consider a compilation of my favorite resources that serve as a first step guide.

Michael Covel Trend Following Resources:

Third Party Trend Following Resources:

  • A Century of Evidence on Trend Following Investing (PDF)
  • Two Centuries of Trend Following (PDF).
  • On the Origins and Nature of Trend Following (WEB)
  • Speculation as a Fine Art: Dickson Watts (PDF)
  • Memoirs of Extraordinary Popular Delusions by Charles MacKay Volume 1; 1841 (PDF)
  • Memoirs of Extraordinary Popular Delusions by Charles MacKay Volume 1; 1852 (PDF)
  • Reminiscences of a Stock Operator; 1923 (PDF)
  • Efficient Market Theory: When will it die? (PDF)
  • Time series momentum (PDF)
  • Trend following and the MCM system: An interview with Paul Mulvaney (PDF)
  • Historical Performance of Trend Following (PDF)
  • The Psychology and Neuroscience of Financial Decision Making (PDF)
  • Economics Needs a Scientific Revolution (PDF)
  • David Harding Interview I (PDF)
  • David Harding Interview II (PDF)
  • Financial Market History (PDF)
  • The Loser’s Game (PDF)
  • Fifty Years in Wall Street (PDF)
  • Zero Sum Nature of Markets (PDF)
  • PBS Special: Trillion Dollar Bet (VHS)
  • Trend Following Risk & Return (PDF)
  • David Hsieh & William Fung: Theory and Evidence (PDF)
  • A Tail of Two Worlds: Fat Tails and Investing (PDF)
  • Too Big to Fail: Long-Term Capital Management (PDF)
  • Bet Sizing: Ed Seykota and David Druz (PDF)
  • Gibbons Burke on Money Management (PDF)
  • Frequency v. Magnitude (PDF)
  • Kelly Original Paper March 21, 1956 (PDF)
  • Decision-Making (PDF)
  • Faith in the Markets (PDF)
  • Mini-Contracts (PDF)
  • Futures Basics (PDF)
  • Trading Math Basics (PDF)
  • Turtles in the Wall Street Journal (PDF)
  • History of U.S. Bear & Bull Markets Since 1926 (PDF)
  • Making Money From Mathematical Models (PDF)
  • Run Profits, Cut Losses (PDF)
  • Review of Michael Moore’s film on capitalism here.